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Search Results 0 to 11 of about 12 (some duplicates have been removed)
're less than a month away from massive layoffs and cuts in spending at the pentagon and elsewhere. nancy cordes is on capitol hill. >> reporter: good morning. they call this the sequester and both signs long predicted it could harm the economy if the cuts are allowed to kick in. instead of working together to do something about it they resorted to the blame game a month before the deadline. republicans may be the party of spending cuts but on monday house speaker john boehner insisted the looming sequester was the president's idea. >> the president first proposed this sequester in 2011 and insisted that it be part of the debt limit agreement. >> reporter: unless congress acts the package of cuts worth $1.2 trillion will start to kick in march 1st, taking a $55 billion bite out of this year's defense budget and $27 billion from domestic discretionary spending. according to the congressional budget office more than 1 million jobs are at risk. defense secretary leon panetta had this warning. >> we are going to weaken the united states and make it much more difficult t
. it will mean trimming across the board. with the pentagon and other departments already in crisis mode, the white house announced thursday that he had phoned them but wouldn't state more. was it to reach out for a decision or to reach out in order to compromise? >> the president shoek with senator mcconnell and the speaker. i have no content to read out to you. the two republican leaders pointed out this was the first time they reached out in ought mat imcuts in 2012. it will mean $1.2 trillion in across-the-board cuts. thursday president obama argued to friendly radio hosts that they're standing in his way for the wrong reasons. >> their basic view is nothing is important enough to raise taxes on well thi individuals or corporatio corporations. and they would prefer to see these kinds of cuts and that's what behinds them at that the point. eric cantor put it this way in a statement. president obama has said that unless he gets a second tax hike, he will forced to let criminals loose on the streets, meats at your grocery store won't be inspected and emergency responders won't be able t
to take effect. it will impact virtually every major agency in washington. the pentagon could see roughly half of the reductions and that has republicans upset. >> we're going to begin to unravel the finest military in the history of the world at a time when we need it most. >> reporter: mandatory cuts in domestic spending could also hit americans hard. there could be furloughs of food safety employees, leading to a shortage of meat poultry and eggs and pushing up food prices. 50,000 tsa workers could see their hours cut back that would mean longer security lines for air travelers, and more than 350,000 people who need mental health treatment could be denied. hundreds of thousands of government workers from teachers to federal law enforcement agents are likely to be furloughed. many republicans admit the sequester isn't ideal, but they insist cuts have to be made. >> let me be very clear and i say this to the president as i say it to you, these spending cuts are going to go through on march 1st. >> reporter: the white house warns the cuts would get phased in just a
be affected. that means 700,000 of the 800,000 who work for the pentagon. >> on our civilians it will be catastrophic. >> reporter: civilians like sue ann falkenburg a single mom 3,000 miles away in california. i would have to get a part-time job to support my family. >> reporter: falkenburg is worried about the pay cut or furlough. >> i can't exactly call my landlord and say, hey, i got a 20% cut in my salary can you reduce the rent for 20%? >> reporter: it's not just the pentagon. dozens of cuts including the fbi will have to make difficult choices. >> the fbi will have to be in a position to evaluate where the reductions will come from and that may impact the national security arena. >> reporter: the democrats' congressional campaign committee also goes on the offensive today. they will accuse republican of risking 700,000 jobs in order to protect special interest tax loopholes. >>> a total disaster that's what one walmart executive reportedly wrote about a plunge in sales. its it's announcing its report this morning. rebecca jarvis is here this
. it has been happening for the last several months. meanwhile at the pentagon officials are looking at big changes in how they fight cyber terror. bob orr is in washington. >> those attacks on the "new york times" and "wall street journal" are part of a plot to crack critical systems inside of the u.s. cyber detectives traced the computer break-ins at "the new york times" and "wall street journal" to government hackers inside china. chinese deny the allegations calling them not professional and groundless but both papers say there is evidence hackers stole reporters' passwords and attempted to monitor coverage of the chinese government. newspapers are just the latest targets. sources say state-sponsored spies mostly from china every day infiltrate a broad spectrum of government and business networks inside the u.s. >> cyber, i believe, represents as big a threat to the security of this country as any one specific threat. >> reporter: at his confirmation hearing thursday secretary of defense nominee chuck hagel warned computer-based attacks could be crippling
say that means as many as 700,000 of the 800,000 civilians who work for the pentagon. >> this is not a beltway phenomenon. on our civilians it will be catastrophic. >> reporter: civilians like sue ann fallenberg a single mom and administrative assistant at a naval school 3,000 miles away from washington in monterey california. >> i would have to get a part-time job to support my family. >> reporter: she is worryied about the 20% pay cut if she's furloughed or put on involuntary pay one day a week. >> can you reduce the rent for 20%? i can't say that. >> reporter: and it's not just cuts to the pentagon dozens of agencies including the fbi will also have to make difficult choices. >> the fbi would be in the position of having to evaluate where those reductions can come from, and that may impact in the national security arena. >> reporter: the president will continue in coming days to highlight the hardships to individuals and to the public at large if the cuts take place. democrats congressional campaign committee also goes on the offensive today.
. and the funding cuts gethit just one week from today. with the pentagon and other departments already in crisis mode, the white house oannounced thursday the president phoned mitch mcconnell and house speaker john boehner but deliberately avoided saying more. was it simply to restate his position or to reach out to them in the interests of compromise? >> the president spoke with senator mcconnell and the speaker. i have no content to read out to you of those conversations. >> reporter: the two republican leaders pointed out this was the first time the president has reached out to them on the topic of the automatic cuts in two months since the end of 2012. the sequester is set to kick in a week from today will mean $1.2 trillion in across the board cuts. thursday, mr. obama argued to friendly radio hosts that republicans are standing in his way for the wrong reasons. >> their basic view is that nothing is important enough to raise taxes on wealthy individuals or corporations and they would prefer to see these kinds of cuts and that's the thing that binds their party togethe
% of the pentagon's budget but the senate headed home without resolving a dispute over the president's pick to lead the military former republican senator chuck hagel. >> we need a secretary of defense on the job. no one, no one knows, especially in the united states senate what foreign challenge will face this country perhaps within the next ten days. >> reporter: republicans say they still have questions about hagel's foreign policy speeches his income and his qualifications for the job. so in a rare move they filibustered his nomination. >> he is the wrong person at the worst time for the job, this day we can and must do better. >> reporter: republicans say they probably will allow hagel to get confirmed when they come back from recess. democrats say if that's the case, why not just confirm him now? this was supposed to be secretary panetta's last week on the job but j.b. and norah, he says he'll stick around until a new defense secretary is named. >> nancy cordes, thank you so much. >>> double amputee olympian oscar pistorius is denying in "the strongest terms" that
the pentagon, which announced plans last week to reduce its presence in the persian gulf to close the expected budget shortfall. >> we're weeks away from the president's sequester. >> reporter: house republicans have coined the somewhat clunky term "obama-quester" to describe the looming cuts in an attempt to pin the blame on the president. >> i call on the democrats to show us their plan to stop the sequester from going into effect. >> reporter: house republicans passed their own plan last year but the president panned it. >> they made bigger cuts to things like education and job training medicare and social security benefits, that idea is even worse. >> reporter: millionaires just saw their taxes go up two months ago, when they lost their bush era tax cuts and house speaker john boehner has been telling us all week the president got his revenue then. he's not getting any more. ra and j.b. these two sides have to start dealing if they want to avert the deadline which is just two weeks away and congress isn't even in session next week. >> wow, nancy cordes t
pentagon officials are looking at a big change in how they fight tearer. bob orr is in washington. >> those attacks are part of the broader campaign by foreign cyber spies to hack computer systems inside the u.s. officials warn more are inevitable as cyber attacks are ga greater now. to government sponsored hackers inside china. chinese officials denied the allegations calling them not professional and groundless but both papers say there is evidence hackers stole reporters' passwords and attempted to monitor governments of the papers. state-sponsored spies, mostly from china, every day infiltrate a broad spectrum of government and business networks insight the u.s. >> cyber terrorism presents one of the biggest threats. >> secretary of defense nominee chuck hagel warned the attacks could be crippling. >> it's an insidious quiet kind of a threat that we've never quite seen before. it can paralyze a nation in a second. >> for now the damage is economic. cyber spies and criminal hackers are stealing corporate secrets worth an estimated $250 billion a year from u.s. businesses but they worry m
Search Results 0 to 11 of about 12 (some duplicates have been removed)